No wages, Have unemployment benefit. IRA?


C

CRLackey

I was unemployed all year. State Unemployment benefit was
recorded on a 1099G.

Since unemployment benefit is a substitute for wages, can I
contribute to my IRA?

Carl
 
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P

Phil Marti

CRLackey said:
I was unemployed all year. State Unemployment benefit was
recorded on a 1099G.

Since unemployment benefit is a substitute for wages, can I
contribute to my IRA?
Nice try, but no.

Phil Marti
Topeka, KS
 
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H

Harlan Lunsford

CRLackey said:
I was unemployed all year. State Unemployment benefit was
recorded on a 1099G.

Since unemployment benefit is a substitute for wages, can I
contribute to my IRA?
Might be a "substitute", but it ain't the real thing.

Therefore, the answer is no.

Cheer$,
Harlan Lunsford, EA n LA
 

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